What is a Consignment Land Auction?

July 31, 2009

It is the inclusion of multiple sellers and their properties in the same auction. Reck Agri Realty & Auction is then able to attract and advertise the auction more extensively to potential buyers from outside the area, in addition to an already interested group of local buyers. As a result, the properties will be exposed and appeal to a broader and greater number of buyers, than if offered separately. The buyers will have a greater selection of properties to choose from and, combined with our bidding format, allows multiple opportunities to purchase property. We will be conducting 6 CONSIGNMENT LAND AUCTIONS over the next 12 months, and will be offering the following types of properties: CRP, Dryland, Irrigated, Pasture, and Recreational Hunting. We are prepared to conduct the Consignment Land Auctions throughout our trade area, and depending upon the number, types, and location of properties to be sold, we will remain flexible with the grouping of properties, auction dates, and auction location. The following is the schedule of the Consignment Land Auctions, signup deadlines, and types of properties to be offered at the auctions. For your information, we conducted a CONSIGNMENT PASTURE AUCTION April 28, 2008, at the Ramada Inn in Sterling, CO. We offered 3,878 acres owned by 5 sellers. Parcels ranged in size from 470 ac. to 1,144 ac. Over 100 people attended with 35 registered bidders. Prior to the auction, buyers inspected and prioritized the properties they were interested in, then bid accordingly. Several buyers commented they liked having the opportunity to choose from multiple properties and that everyone had an equal opportunity to bid. A comment from another attendee was: “This Consignment Land Auction is an excellent service for the landowners of smaller to midsize properties. It allows them to take advantage of the auction format, with exposure to a larger number of buyers than if their property is offered separately.” If you are interested in selling as a property owner of CRP, Dryland, Irrigated, Pasture, and/or Recreational Hunting and would like to include your property in one of our CONSIGNMENT LAND AUCTIONS, please call Marc Reck @ Reck Agri Realty & Auction (970) 522-7770.